Blockchain and cloud based privacy firm Oasis Labs has joined Binance’s CryptoAlliance to improve security in the crypto space by developing systems to combat fraud, according to an announcement made on August 27.
- Oasis Labs will work with Binance and other CyptoAlliance members to build the decentralized CryptoSafe platform
- The CryptoSafe platform shares intelligence data between exchanges to combat unauthorized transactions, including those related to money laundering and thefts
- Oasis Labs states that its high performance blockchain facilitates secure computing, simultaneously providing fraud protection and keeping exchange data confidential
- The initial focus will be on “analysis against the combined anti-fraud intelligence from the Alliance members”, as well as real-time fraud analysis to combat hacks, thefts and money laundering
- Development is made straightforward through Oasis Labs’ privacy SDK Parcel
- Binance and Oasis Labs are the inaugural members of the CryptoAlliance
- Blockchains supported by CryptoSafe include Bitcoin, Ethereum, TRON and EOS, with more blockchains to be made compatible in the future